As the saying goes, there are many possible reasons for an insider to sell a stock, but only one reason to buy — they expect to make money. So let's look at two noteworthy recent insider buys.
At Evolus (NASDAQ:EOLS), a filing with the SEC revealed that on Monday, Director Vikram Malik purchased 1,298,701 shares of EOLS, for a cost of $19.25 each, for a total investment of $25M. Investors are able to pick up EOLS at a price even lower than Malik did, with shares changing hands as low as $15.90 in trading on Friday — that's 17.4% below Malik's purchase price. Evolus is trading down about 5.3% on the day Friday. Before this latest buy, Malik bought EOLS on 2 other occasions during the past year, for a total investment of $350,042 at an average of $21.34 per share.
And on Thursday, CEO Richard C. Adkerson bought $1.74M worth of Freeport-McMoran Copper & Gold (NYSE:FCX), buying 172,000 shares at a cost of $10.14 a piece. Freeport-McMoran Copper & Gold is trading up about 3.9% on the day Friday. Adkerson was up about 4.7% on the buy at the high point of today's trading session, with FCX trading as high as $10.62 in trading on Friday.
Any ideas and opinions presented in all Market News Video clips are for informational and educational purposes
only, and do not reflect the opinions of BNK Invest, Inc. or any of its affiliates, subsidiaries or partners.
In no way should any content contained herein be interpreted to represent trading or investment advice.
None of the information contained herein constitutes a recommendation that any particular security, portfolio,
transaction, or investment strategy is suitable for any specific person. All viewers agree that under no
circumstances will BNK Invest, Inc,. its subsidiaries, partners, officers, employees, affiliates, or agents be held
liable for any loss or damage caused by your reliance on information obtained. Read Full Disclaimer.